InterviewSolution
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InterviewSolution
This section includes InterviewSolutions, each offering curated multiple-choice questions to sharpen your Class 11 knowledge and support exam preparation. Choose a topic below to get started.
| 1. |
Assumption of ordinal apporch |
| Answer» 1.Consumer is rational so he want to maximize is satisfaction.2.money income of consumer is given and doesn\'t change or we can say remain constant.3.consumer consumes two commodities , which are close substitute of each other.4. consumer always prefer more of a commodity as it offers him higher level of satisfaction this is due to monotonic preferences which implies that as consumption increases total utility also increases.6. consumer preferences for two commodities or goods is well defined if consumer has less quantity of a good his intensity for that good will rise and vice versa. | |
| 2. |
Critical appraisal of methods of collection of data |
| Answer» Method of collection of data are 1,Primary dataa)direct personal interviewb)indirect oral investigationc)information through local sources and correspondentsd)enumerator\'s method2.Secondary dataa)published sourcesb)unpublished sources | |
| 3. |
Different between microeconomics and macroeconomics |
| Answer» | |
| 4. |
What happense when ic slops downwards |
| Answer» \xa0Indifference Curve Slopes Downwards :\xa0This property implies that to increase the consumption of X good, the consumer has to reduce the consumption of Y good, so as to remain at the same level of satisfaction as shown in the given diagram:To increase the quantity of X good from OX toOX1, the consumer has to reduce the quantity of good Y from OY to OY1. | |
| 5. |
Implications of perfect competition in forms of market |
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| 6. |
If price of mango rises demand will ? |
| Answer» Falls due to law if demand<br>Fall due to the law of demand | |
| 7. |
What is statistical table? Explain briefly tha main characteristics of a good statistical table. |
| Answer» thlksru | |
| 8. |
What is production possibility curve |
| Answer» \tIt is a graphical representation of all the possible combinations of two goods that can be produced by optimum (fuller) utilization of available resources and given technology.\tIt gives us the maximum limit of goods & services that could be produced so, it is also known as Production Possibility Boundary or Production Possibility Frontier (PPF). | |
| 9. |
Explain any three factor which affect the supply of a commodity |
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| 10. |
What do you understand by the increasing returns to scale |
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| 11. |
Briefly explain about tabulation of data |
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| 12. |
What are the features of good questonaries |
| Answer» I know only one remaining you see in side book<br>Multiple choice of question in questionnaire | |
| 13. |
Whate are measurement error and recording mistakes |
| Answer» MISTAKE ERROR1) The scale of measurement happens to be different for different enumerator ,and 2) different enumerators may be allowing different degree of approximation in their measure ment ,even while using identical scales. | |
| 14. |
Difference between tu and mu .... |
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| 15. |
Can PPC be a straight line ???? |
| Answer» Yes , because it show\' s the ratios production equally | |
| 16. |
Differentiate between tu and mu |
| Answer» \tAs long as MU is positive, TU increases.\tWhen MU is zero, TU is maximum i.e. point P in the diagram.\tWhen MU becomes\xa0negative, TU starts diminishing. | |
| 17. |
How we measure scale in histogram and bar and how we write in graph like 1scale |
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| 18. |
Rotation of ppc |
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| 19. |
What is total utility |
| Answer» Total utility is the sum of all the utilities derived from consumption of all the units of a particular commodity.<br>We also can say it total univers | |
| 20. |
Thoery of demand |
| Answer» Maximum satisfraction of people demand<br>Demand refer to want that satisfy needs | |
| 21. |
Shor questions |
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| 22. |
What is statistical error |
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| 23. |
What is time series? |
| Answer» Presentation of information of variables which is arranged over a period of time (e.g., years, months, weeks etc.) on a graph paper is known as “time series graphs”. | |
| 24. |
What is \'loss of information\' in classified data |
| Answer» The frequency distribution summarises the raw data by-making it concise and comprehensible. However, it does not show the details that are found in raw data and leads to loss of information. When the raw data is grouped into classes, an individual observation has no significance in further statistical calculations.For example, suppose class 20-30 contains 6 ob-servations : 25, 25, 20, 22, 25 and-28. Such data is grouped as a class 20-30, then ^dividual values have no significance and only frequency, i.e. 6 is recorded and not their actual values.All values in this class are assumed tofbe equal to the middle value of the class interval or class mark. Statistical calculations are based only on the value of class mark instead of the actual values | |
| 25. |
Budget line |
| Answer» | |
| 26. |
Give examples of growth of resources |
| Answer» (i) Supply of skilled labour (like IT Engineers) has increased in India which means there is increase in resources(workforce) and this\xa0causes\xa0a rightward shift in the Production Possibility curve.(ii) Discovery of oil reserves in the gulf countries has caused a substantial increase in resources and hence the PPC shifts to the right . | |
| 27. |
Differentiate between tabulation and classification |
| Answer» Difference between classification and TabulationTable depicts the few differences\xa0between classification and tabulation <th scope="col">Classification</th> <th scope="col">tabulation</th> \t\t\tIt is the basis for tabulationIt is the basis for further analysisIt is the basis for simplificationIt is the basis for presentationData is divided into groups and sub groups on the basis of similarities and differences.\xa0Data is listed according to the logical sequences of the related characteristics.\xa0\t | |
| 28. |
What is meant by problem of allocation of resources? |
| Answer» Allocation of resources means allocating the scarce resources in such a way that maximum wants of the society are fulfilled. The following are related to the problem of allocating resources.(a) what to produce and in what quantity?(b) How to produce? | |
| 29. |
What was the definite change that took place towards19 century |
| Answer» | |
| 30. |
What was the definite change that took place towards the 19 century |
| Answer» What the hell is this definite change question plzz complete karo Ashuni | |
| 31. |
Explain \'production theory\'. |
| Answer» If any person produce any commodity and sale in profit is called production theory | |
| 32. |
Contraction in demand |
| Answer» Contraction of demandThere is contraction of demand for a commodity when there is increase in the price of commodity. When price is 10 dollars per kilogram the demand is 40 kilograms. When price increases to 20 dollars there is contraction of demand from 40 to 30 kilograms.\tPriceDemand$1040 kg2030\tThe diagram shows contraction of demand. Quality of demand is shown on OX axis. The price is shown on OY axis. DD is demand curve. When price increases the quantity demanded comes down and demand curve moves upward. | |
| 33. |
Write a short note on origin and growth of statistics |
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| 34. |
Expain all the characteristics of satatistics in plural sense |
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| 35. |
Define production possibility frontier. |
| Answer» PPF is a graphical representation of possible combination of two goods that can produce with given resources and technology. | |
| 36. |
Exercise question and answers |
| Answer» Which chapter ?????????? | |
| 37. |
Explain consumer equilibrium in case of single commodity and two commdity with graph |
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| 38. |
Define demand name the factors affecting market demand? |
| Answer» Market demand means the total quantity of a commodity that all its buyers are willing to purchase at different prices over a given period of time.Factors determining market demand are:(i) Own price of the good(ii) Price of related goods(iii) Income of the consumer(iv) Taste and preferences of the consumer(v) Expectation of the consumer regarding availability of a good(vi) Size of population(vii) Distribution of income(viii) Composition of population | |
| 39. |
What is the syllabus for first term |
| Answer» | |
| 40. |
What is supply curve?Explain in short |
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| 41. |
Example of an Ideal questionnaire |
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| 42. |
Calculate national income and personal disposable income |
| Answer» \tPersonal disposable income refers to disposable income of only the individuals and households in the country. National disposable income refers to disposable income of the country as a whole.\tPersonal disposable income is estimated as the sum total of household consumption and household saving. It is the income remaining with the individuals and the households after payment of all the taxes levied against their income and their property by the government.National disposable income is estimated as the sum total of net domestic income at factor cost, net indirect taxes, net factor income from abroad and net current transfers from the rest of the world. | |
| 43. |
State in brief the problem of fuller utilisation of resources. |
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| 44. |
what are published and non published sources |
| Answer» Generally, publication occurs on the date on which copies of the work are first made available to the public. Unpublished works are those which have not been distributed in any manner. | |
| 45. |
What precaution in the use of secondary data |
| Answer» \tFollowing are the main precautions to be taken before using secondary data:(1) Reliable agencyWe must ensure the agency that has published the data should be reliable.(2) Suitability for the purpose of an enquiryThe Investigator must ensure that the data are suitable for the purpose of the present enquiry.The suitability of the data is determined by investigating the nature, objectives, time of collection, etc. of the secondary data.(3) Adequacy and accuracy to avoid the impact of biasIt is necessary to use adequate data to avoid biases and prejudices leading to incorrect conclusions.(4) Method of collecting data usedThe investigator should also ascertain as to what method was used in collecting the data.Sampling method may be biased depending upon the mode of selection of samples.All these should be ascertained before making use of the secondary data.\t | |
| 46. |
Explain the main limitation of statistics |
| Answer» There are following limitations of statistics :Sometimes, when data are not properly collected 1 then there is likelihood to draw wrong conclusions.Therefore, it is necessary to know the limitations of statistics.(i) Statistics does not study about individuals : Statistics are expressed in facts. It does not study individuals. For example, there are five students in a class. Statistics only tells the average marks obtained in class not how many marks are obtained by every student in the class.(ii) It does not study the qualitative aspect of problem : The most important condition of statistical study is that subject of investigation and inquiry should be capable of being qualitatively measured. For example, honesty, poverty, etc.(iii) Statistics can be misused: The result obtained can be manipulated accordingly to one’s own interest and such manipulated results can mislead the community.(iv) Statistical results lack mathematical accuracy: The results drawn from statistical analysis are normally in approximates. As the satistical analysis is based on observation of mass data, number of inaccuracies may be present and it is difficult to rectify them.(v) Uniformity and homogeneity of data : It is essential that data must have the quality of uniformity and homogeneity. Heterogeneous data are not comparable. For example, it would be meaningless to compare the heights of men with heights of trees because these figures are of heterogeneous character. | |
| 47. |
3,8,7,4,0,1,3 what is median above this?? |
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| 48. |
Explain fully why demand curve is downword sloping |
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| 49. |
Why higher indifference curve shows higher level of satisfaction |
| Answer» Higher indifference curve represents a higher level of satisfaction because higher IC means a bundle consisting more of both the goods or same quantity of one good n more quantity of the other good . It is based on the assumption that the consumer has monotonic preference , ie , more consumption gives him more satisfaction . | |
| 50. |
"there are three kinds of lies-lies,damned lies and statistics." Explain the statement |
| Answer» Statistics refers to the aggregates or averages that relate to an enquiry or some relationship. Such aggregates facilitate the presentation of data in a simplified manner. Besides presentation, statistics also enable a reader to make comparison among two or more variables. On the contrary to this, statistics also involve some limitations which often lead to the situation of distrust on statistics and its methods. Such limitations evoked ‘Mark Twain’ of U.S. to introduce a phrase called ‘Lies, Damned lies and Statistics’. This phrase was introduced to highlight the shortcomings (limitations) associated with statistics.The following are the limitations which resulted in mark of statistics as a lie:\tThe users of the statistics usually tend to manipulate the data to support their already drawn conclusions, which leads to the situation of distrust and the process of data manipulation.\tThe statistical figures are made so convincing that people feel bound to trust on such figures.\tThe readers are often mislead by the way of presentation of data (even if correct). For example, if per capita income of the country increases then it represents the readers to be convinced that the income of all the people in the economy increases. However, if the distribution of income in the economy is inequitable then the income of only a section increases while the other section of population lives in poverty. | |